Extra Space Storage (NYSE:EXR) updated its FY21 earnings guidance on Monday. The company provided EPS guidance of $5.85-$6.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.48. Extra Space Storage also updated its FY 2021
After-Hours guidance to 5.85-6.05 EPS.
Several equities research analysts have issued reports on the company. KeyCorp upgraded Extra Space Storage from a sector weight rating to an overweight rating and set a $124.00 price target for the company in a report on Friday, November 13th. Truist upgraded Extra Space Storage from a hold rating to a buy rating and set a $125.00 price objective for the company in a report on Friday, January 22nd. Zacks Investment Research downgraded Extra Space Storage from a buy rating to a hold rating and set a $118.00 price objective for the company. in a report on Tuesday, January 12th. JPMorgan Chase & Co. upgraded Extra Space Storage from a neutral rating to an overweight rating and set a $124.00 price objective for the company in a report on Monday, December 21st. Finally, Morgan Stanley increased their price objective on Extra Space Storage from $94.00 to $107.00 and gave the stock an underweight rating in a report on Wednesday, December 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company's stock. The company presently has a consensus rating of Buy and a consensus price target of $116.00.
NYSE EXR traded up $1.11 during trading hours on Monday, hitting $120.74. 1,223,791 shares of the company traded hands, compared to its average volume of 789,375. The business's 50-day moving average is $114.75 and its 200-day moving average is $112.13. Extra Space Storage has a twelve month low of $72.70 and a twelve month high of $121.83. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $15.86 billion, a price-to-earnings ratio of 35.83, a P/E/G ratio of 5.80 and a beta of 0.17.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Monday, February 22nd. The real estate investment trust reported $1.48 EPS for the quarter, beating the consensus estimate of $1.35 by $0.13. Extra Space Storage had a return on equity of 16.54% and a net margin of 34.54%. The firm had revenue of $301.10 million during the quarter, compared to analysts' expectations of $293.09 million. During the same period in the prior year, the firm posted $0.82 earnings per share. The business's quarterly revenue was up 4.3% compared to the same quarter last year. Analysts predict that Extra Space Storage will post 5.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.31%. This is a boost from Extra Space Storage's previous quarterly dividend of $0.90. The ex-dividend date is Friday, March 12th. Extra Space Storage's dividend payout ratio (DPR) is presently 73.77%.
In other news, CEO Joseph D. Margolis sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, December 23rd. The stock was sold at an average price of $115.10, for a total value of $287,750.00. Following the completion of the sale, the chief executive officer now directly owns 115,300 shares of the company's stock, valued at $13,271,030. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.64% of the company's stock.
About Extra Space Storage
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.
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